Take Over Construction Sample Clauses

Take Over Construction. If construction of the Project is not completed, Lender may, but shall not be obligated to, take over and complete the construction of the Project in accordance with Plans and Specifications approved by Lender with such changes as Lender may, in its reasonable discretion, deem appropriate, all at the risk and expense of the Borrower. Lender may assume or reject any contracts entered into by the Borrower in connection with the Project and Lender may enter into additional or different contracts for services, labor and for materials necessary, in the discretion of Lender, to complete the Project. Lender may pay, compromise and settle all claims in connection with the Project. All reasonable sums, including reasonable attorney fees, charges and fees for supervision and inspection of the construction, and for any other necessary purpose in the sole discretion of Lender, expended by Lender in completing the Project shall be deemed advances made by Lender to the Borrower, and the Borrower shall be liable to Lender for the repayment of such sums, together with interest on such amounts from the date of their expenditure at the default rate specified in the Note. Lender may, in its discretion, at any time, abandon work on the Project after having commenced such work and may recommence such work at any time, it being understood that nothing in this Section shall impose any obligation on Lender to complete the Project. For the purpose of carrying out the provisions of this Section, the Borrower irrevocably appoints Lender as its attorney-in-fact, with full power of substitution, to execute and deliver all such documents, pay and receive such funds, and take such action as may be necessary in the judgment of Lender to complete the Project.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Take Over Construction. If Lake District fails in any respect to comply with the provisions of this Agreement or if construction ceases before completion regardless of the reason, Lender, at its option, may in addition to the remedies set forth in Section 10.2, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor necessary to complete the improvements, substantially in accordance with the Plans and Specifications. If Xxxxxx takes possession, it may take any and all actions necessary in its judgment to complete construction of the Project or any portion of the Project, including making changes in the Plans and Specifications, work, or materials and entering into, modifying or terminating any contractual arrangements, subject to Xxxxxx's right at any time to discontinue any work without liability. Lender may assume or reject any contracts entered into by Lake District in connection with the Project and Lender may enter into additional or different contracts for services, labor and for materials necessary, in the discretion of Lender, to complete the Project. If Lender rejects any contracts, Lake District shall be solely liable for any claimed damages. Lender may pay, compromise and settle all claims in connection with the Project. If Lender elects to complete the Project, it will not assume any liability to Lake District or to any other person for completing the Project or for the manner or quality of construction of the Project, and Lake District expressly waives any such liability. Lender may, in its discretion, at any time, abandon work on the Project after having commenced such work and may recommence such work at any time, it being understood that nothing in this Section shall impose any obligation on Lender to complete the Project. Lake District irrevocably appoints Lender as its attorney-in-fact, with full power of substitution, to complete the Project, at Xxxxxx's option, either in Lake District's name, in its own name, or through a court-appointed receiver, to which appointment Lake District hereby consents and waives any requirement for notice, a bond or a hearing and confirms that such power is coupled with an interest. In any event, all sums expended by Xxxxxx in completing the construction of the Project including reasonable attorneys’ fees, charges and fees for supervision and inspection of the construction, and for any other necessary ...
Sample 1

Related to Take Over Construction

  • New Construction If this contract is for a Property that is newly constructed and the new construction option is selected, coverage begins on day one (1) of month thirteen

  • Neutral Construction Neither party hereto may rely on any drafts of this Agreement in any interpretation of the Agreement. Both parties to this Agreement have reviewed this Agreement and have participated in its drafting and, accordingly, neither party shall attempt to invoke the normal rule of construction to the effect that ambiguities are to be resolved against the drafting party in any interpretation of this Agreement.

  • DAF Construction The DAF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Developer and Connecting Transmission Owner agree on another mutually acceptable deadline, the Developer shall deliver to the Connecting Transmission Owner and NYISO “as- built” drawings, information and documents for the DAF, such as: a one-line diagram, a site plan showing the Large Generating Facility and the DAF, plan and elevation drawings showing the layout of the DAF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Developer’s step-up transformers, the facilities connecting the Large Generating Facility to the step-up transformers and the DAF, and the impedances (determined by factory tests) for the associated step-up transformers and the Large Generating Facility. The Developer shall provide to, and coordinate with, Connecting Transmission Owner and NYISO with respect to proposed specifications for the excitation system, automatic voltage regulator, Large Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the internal laws of the State of New York.

  • ICIF Construction The ICIF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Parties agree on another mutually acceptable deadline, Interconnection Customer shall deliver to Transmission Provider and Transmission Owner “as-built” drawings, information and documents for the ICIF, such as: a one-line diagram, a site plan showing the Generating Facility and the ICIF, plan and elevation drawings showing the layout of the ICIF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Interconnection Customer’s step-up transformers, the facilities connecting the Generating Facility to the step-up transformers and the ICIF, and the impedances (determined by factory tests) for the associated step-up transformers and the Generating Facility. Interconnection Customer shall provide Transmission Provider and Transmission Owner with Interconnection Customer’s specifications for the excitation system, automatic voltage regulator, Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • General Construction 20.2.1. Binding Nature.............................................. 20.2.2. Entire Agreement............................................ 20.2.3. Governing Law............................................... 20.2.4. Indulgences Not Waivers..................................... 20.2.5. Titles Not to Affect Interpretation......................... 20.2.6.

  • Project Construction The Contractor agrees to provide continuous on-site supervision on each Job Order, while progress on the project is being accomplished. The Contractor’s Project Manager will ensure: 1. Coordination and providing supervision to all Subcontractor and workers; 2. Posting of the prevailing wage scale; 3. Maintaining a copy of the Contractors safety program manual made available to all construction personnel; 4. Conducting weekly on-site safety meetings; 5. Completing the daily labor and construction progress log on a daily basis and submit copies to the County on a daily basis. Copies of the previous day’s reports must be submitted by 9:00AM of the following day. a. Daily labor log is to include a listing of Subcontractor(s) and a count of workers by trade providing services for the day. b. Construction progress log is to include a narrative of the Work provided by trade(s). Narrative agrees to include the various areas of the jobsite where Work was performed and any problems or conditions that were encountered. c. In the event the Contractor fails to provide a daily log and/or construction progress log, the County may impose damages against the Contractor in the amount of fifty dollars ($50.00) for each log and deduct from the Contractor’s payment request, for each day the Contractor does not provide the documentation. 6. County may suspend Contractor operations if no Contractor Superintendent is observed. All delays caused by the suspension will be the responsibility of the Contractor. No time extension or claims for cost(s) associated with the suspension will be granted by the County.

  • Liberal Construction The Covenants hereof shall be liberally construed to promote and accomplish the objectives set forth in the Recitals.

  • Completion of Construction Within 60 days of the completion of construction of the Project, Project Owner shall deliver to DoD copies of the FAA form 7460-2 for each ASN, including the final coordinates for each turbine erected.

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!